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MGPA Winds Up $480M Fund With Strong Returns

BERMUDA-Global Fund 1 had 21 investments across 12 countries, including Belgium, France, Germany, Portugal, Spain and the UK.

By Allan Saunderson | Updated on March 08, 2010

BERMUDA-Private equity real estate advisor MGPA, an associate of the Macquarie Group, is winding up its Global Fund I, an opportunistic $480 million global property fund which has delivered strong returns to investors and successfully sold off $5 billion of assets. Established in 1999 by existing senior management, the fund invested on behalf of 15 institutions across Australia, Europe, North America and the Middle East. It made 21 investments across 12 countries in Asia and Europe, including Belgium, France, Germany, Portugal, Spain and UK – and all major property sectors.

Through applying local knowledge and active asset management, MGPA said it generated more than two times equity and delivered 20% gross IRR to investors “at a time when real estate was suffering from the aftermath of the dot-com crash and SARS,” according to company officials. The fund is one of the first of its kind to be round-tripped within the agreed timeline, and to meet return targets. Senior Partner James Quille says “Global Fund I was MGPA’s flagship fund, and I am proud to say that the key personnel remain the same today.

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